Managers of Wealth Africa

South African Rand Forecasts: Investec sees Recovery in Third Quarter

Bishop says eventually sufficient global and domestic monetary and other policy measures support growth and markets allowing sentiment to stabilise.

SA considers pandemic responses, including $5.3 bn social bond

The recommendations include R200 billion of guarantees for bank lending to struggling businesses.

Lobby urges EAC leaders to prepare joint recovery plan

Private sector organisations from Kenya, Tanzania, Uganda, Rwanda, Burundi and South Sudan also called for a common approach to businesses to safeguard the region’s jobs and exports.

Ghana has become the first African country to lift its coronavirus lockdown

The president also said he was concerned with the “severe impact on the poor and vulnerable”

Payment of UIF funds to laid-off workers must be speeded up - Cosatu

In view of the ongoing Covid-19 crisis, representatives heard that 3-million jobs could be at risk in South Africa.

Lockdown to burn a hole in Eskom finances

Eskom is anticipating a possible decline in economic activity post the lockdown period, which may "result in lower payment levels for electricity".

Central Bank, CMA differ over banks dividend order

All listed banks have large numbers of shareholders due to the high number of retail investors

South Africa to Weigh a Wealth Tax to Aid Recovery, Rapport Says

The South African government will consider a proposal for a one-off wealth tax during an economic recovery planning meeting on Monday, according to a report in Rapport. Such a tax could assist Africa’s most industrialized economy as it bounces back

EIB directs support to women and SMEs in Africa

EIB looks to help the most vulnerable and to encourage banks to take on more risk as a joint programme unveils a €5.2 billion package for non-EU countries.

Nigeria urges 'appropriate' debt solutions for middle-income countries

Many African countries have also been hit by a slowdown in remittances from citizens living overseas, a sharp outflow of capital and a collapse in commodity prices.

Keeping up with the CEOs amid Covid-19: African Bank

Basani Maluleke says staff have shown discipline and empathy in dealing with customers during these confusing and possibly financially strained times.

Nedbank takes R5bn market cap knock

As a result, shareholders are advised that Nedbank Group’s 2020 financial guidance, as provided in our annual results announcement has been withdrawn and our medium and long-term targets are under review.

Mauritius welcomes new relaxed norms for FPIs

Under the new regulation, even the unregulated funds whose investment manager is appropriately regulated and registered as a Category-I FPIs can operate from India if their investment managers take the responsibility for all commissions or omissions of su

COVID-19: Zenith Bank supports Trust Fund with GH¢1million

These unprecedented times require every segment of the society to contribute their quota to support government’s efforts towards mitigating the impact of the Coronavirus”.

How the banking industry can survive virus pandemic

It is important to note that despite the significant drop, the import cover (as at April 9th 2020) s8ll remained above CBK’s statutory requirement of at least 4 months of import cover.

Further interest rate cut on the horizon as coronavirus pummels SA economy

The National Treasury will have to re-prioritise state funds in the coming weeks, we believe, to include more funding directed at social welfare grants, and will likely increase local bond issuance by even more than our previously projected 35–40%.&

Uganda lowers central bank rate

There are signs of a global economic decline prompting financial bailout packages.

African Development Bank’s Sustainable Energy Fund for Africa (SEFA) grants $760,000 to develop small-scale renewable energy projects across Sub Saharan Africa

Through its Empower Invest fund, EmNEW invests in small and medium-scale renewable energy projects in Africa

Mauritius based funds eligible for registration as Category I FPI

Mauritius based funds eligible for registration as Category I Foreign Portfolio Investor (FPI) with Securities and Exchange Board of India (SEBI)

Sanlam commits Ksh8M to flatten Covid-19 curve in Kenya

Sanlam Kenya Group Chief Executive Officer Dr Patrick Tumbo, said the firms are highly conscious of the fact that the prevailing situation is totally unprecedented and that the country has found itself needing to deal with a large-scale health and social

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